QSA's Week in Oil & Gas (#20, 2025)
Hodgson signals rapid project approvals, new Major Federal Projects Office; StatsCan updates on natural gas, refined petroleum products, energy storage; Minister addresses energy security and infrastructure; April price indexes shift; New oil and gas datasets released.
Good morning! This is Queen Street Analytics' weekly roundup of regulatory developments, legislative discussions, political announcements and other government-related news concerning oil and gas production, wells, drilling, petroleum and fuels refining, pipelines, LNG, hydrocarbons, and all Landman fans. Every Monday, we break down the most important updates in this space in under five minutes.
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Start Date: 2025-05-19
End Date: 2025-05-24
Top Headlines
Main Stories
Minister Hodgson Outlines Accelerated Approval Process and New Major Federal Projects Office
On May 23, Natural Resources Minister Tim Hodgson delivered a keynote speech in Calgary, committing to fast-tracking reviews of Projects of National Interest to a two-year timeframe and launching a Major Federal Projects Office as a single window for permitting. The initiative aims to advance infrastructure buildout and greater market access, particularly for oil and gas pipelines reaching beyond the U.S., and includes coordinated work with provinces, territories, industry, and Indigenous partners. Hodgson identified support for carbon capture, methane reduction, and other technologies as part of federal plans to keep Canadian oil and gas globally competitive. Hydrogen, nuclear, and biofuels were also cited as scalable opportunities, alongside new east-west power transmission targets. Provincial and territorial harmonization of carbon markets was also raised. Hodgson signaled the government’s ongoing commitment to supply security, particularly for eastern Canada, and reiterated that certainty and support would go hand-in-hand with expectations for industry and provincial partnership on large-scale projects, including the Pathways Alliance initiative.
Sources: Announcements: www.canada.ca
StatsCan Releases March 2025 Data on Natural Gas Transmission, Storage, and Distribution
Statistics Canada released updated March 2025 data on the transmission, storage, and distribution of natural gas on May 23, providing new metrics for sector tracking. The dataset offers industry analysis into supply chain trends impacting storage capacity and delivery volumes, relevant for midstream and downstream planning.
Sources: Open Government Data Set: www.statcan.gc.ca
Monthly Energy Transportation and Storage Survey—March 2025 Data Now Available
Statistics Canada on May 20 published results from its March 2025 survey on crude oil and other petroleum liquids transportation and storage. The release covers throughput and inventory dynamics for operators encompassing pipelines, terminals, and storage facilities, informing operational and strategic adjustments.
Sources: Open Government Data Set: www.statcan.gc.ca
Refined Petroleum Products Data: April 2025 Update Released
April data on Canadian refined petroleum products production and inventories became available through Statistics Canada on May 22. The release delivers fresh insight into refinery output trends and stock levels, allowing companies to evaluate short-term supply availability and forecast distribution needs.
Sources: Open Government Data Set: www.statcan.gc.ca
April 2025 Price Indexes Show Lower Input Costs for Producers
April’s Industrial Product Price Index fell by 0.8% month-over-month but rose 2.0% year-over-year, while the Raw Materials Price Index decreased 3.0% since March and 3.6% on an annualized basis. The figures may influence input cost analysis for oil and gas suppliers during Q2.
Sources: Open Government Data Set: www.statcan.gc.ca
Provincial Announcements
Québec, California Hold 43rd Joint Auction of Greenhouse Gas Emission Units
On May 21, Québec and California commenced their 43rd joint cap-and-trade auction, offering over 57 million emission units to bidders at a minimum price of CAD 36.05, with results set for publication May 29.
Sources: Provincial Announcement: www.quebec.ca
Alberta Premier to Champion Energy Corridors at Western Premiers’ Conference
Ahead of the Western Premiers’ Conference in Yellowknife, Premier Danielle Smith pledged to advance new oil and gas pipeline corridors and to resist perceived federal overreach affecting Alberta’s interests.
Sources: Provincial Announcement: www.alberta.ca
New Brunswick Environment Minister Recuses from Spruce Lake Project Assessment
Minister Gilles LePage, citing concerns over conflict of interest, has recused himself from the environmental assessment for Saint John’s Spruce Lake Industrial Park expansion. The process will proceed under the deputy minister.
Sources: Provincial Announcement: www2.gnb.ca
Public Officials' Social Media
On May 23, MP Blake Richards shared findings linking natural gas export growth to reduced global coal use and significant Canadian job creation, asserting federal policy restricts this pathway.
Sources: Social Media: x.com
MP Shannon Stubbs, on May 23, used social media to call for repealing Bill C-69, removing the oil and gas production cap, and fast-tracking LNG projects, arguing the government’s new approach echoes opposition proposals.
Sources: Social Media: x.com
On May 19, MP Mike Lake referenced pre-election comments by the Prime Minister regarding Quebec’s reliance on imported oil and flagged an upcoming parliamentary question period on the subject.
Sources: Social Media: x.com
MP Shannon Stubbs stated on May 21 that she will advocate for increased project approvals, oil and gas export capacity, and regulatory changes in her renewed role for the Conservative Opposition.
Sources: Social Media: x.com
MP Chris Warkentin on May 23 criticized Minister Hodgson’s refusal to commit to repealing laws affecting pipelines and the oil and gas emissions cap, characterizing the speech as insufficient for industry concerns.
Sources: Social Media: x.com
On May 22, MP Patrick Bonin asserted that GNL Québec lacks sufficient market demand and investor interest, pointing to declining European and Asian appetite for new LNG supply.
Sources: Social Media: x.com
Minister Tim Hodgson, on May 23, commented via social media about strong resolve encountered during his first official prairie tour as Energy and Natural Resources Minister.
Sources: Social Media: x.com
What We're Reading This Week
- Tariffs, Prices, and Pain: What's Next for Oilfield Service?: Article on the outlook for oilfield service providers in today’s market climate.
- More infrastructure needed to boost energy security in Eastern Canada, Hodgson says: Coverage of federal perspectives on addressing Eastern Canada’s supply vulnerabilities.
- New energy minister tells oil and gas executives it’s time for some quick wins: Reporting on the government’s call for expedited project timelines.
